EOS Dapps Analysis - EOS.Fish? Really?

in #crypto7 years ago

Before i get started with the topic at hand i want to preface the discussion with saying, I'm not complaining about all the Dapps thats are being built on EOS, but I do want to take a step back and give analysis to the integrity of the project by bouncing around a little.

Preface:
So we have Bitcoin; to many unfamiliar with the environment they truly are "Kleenex" in that they are not only a brand, but a product where all of crypto gets lumped in. When Bitcoin gets bad publicity the trickling snot extends to all of the altcoins. See what i did there?

Lets look at EOS now and use the same context. EOS is the Bitcoin and all the Dapps are altcoins. Given the above scenario using the same logic one would assume that if EOS goes down, the Dapps would go down respectively. However I think there is one factor that differentiates EOS from Bitcoin that may create an opposite effect. Bitcoin is an established coin that has built the world of cryptocurrency as we know it today whereas EOS is a new platform attempting to revolutionize the area to...well... a new stake in the game.

Meat and Potatoes:
Not to say that Bitcoin isnt still growing, but EOS is definitely in a more infant stage and I think is more susceptible to impact on the integrity of their community and initiatives. When a "scamcoin" comes out in the crptoworld it doesnt impact Bitcoin, but Bitcoin does impact all altcoins. Amongst the community there is an understanding of risk/impact with certain unfamiliar/new altcoins. Through this adverse effect of Bitcoin to altcoins, I want to look at the impact of Dapps to the integrity of EOS as a project.

There is no governance to who can build on EOS, and there is is no governance to who can make altcoins. Scams can be present anywhere. With the infancy of EOS im wondering if the same concept of altcoins to bitcoin will return an opposite effect with Dapps to EOS.

EOS is counting on Dapps and usability to drive its popularity in the space. Sure there are great projects out there but i think scams or "shitcoins" (shitDapps) potentially could impact the integrity of the project. Not to say EOS.Fish is a scam, but when i heard that it just made me chuckle to think what are we going to have next? @aclarkuk82 had an article that talked about an Airdrop of EOX that completely looked scammish and I'm just wondering how the effects of Dapps will have on EOS.

Its interesting to think about the opportunities, impacts and future of how this will play out. I really hope the EOS community stays strong to weed out the bad and place the good on a golden platter for the world to see its true potential. What do you think about the current environment? What do you think about the effect of EOS on Dapps and Dapps on EOS?

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Great post, really gots the cogs turning for sure.

I feel that people (not saying you) do not fully understand why the price of Bitcoin impacts all other coins or tokens. Every other cryptocurrency has a satoshi value attached to it and is only worth x dollars as the current satoshi value is worth x dollars.

As an example, as I am writing this EOS is valued at $13.35 and 0.00158605 satoshi's.

Bitcoin is currently at $8,417.17 or 1.00000000 satoshi's (1 Bitcoin).

let's break that down

EOS = 0.00158605 ( $13.35)
Bitcoin = 1.00000000 ( $8,417.17)

8417.77 * 0.00158605 = 13.3510041 or 13.35.

So of course if the price of bitcoin drops, the value of 0.00158605 also drops, therefore,​ the dollar value drops. This then usually​ starts the panic and traders sell there EOS which further impacts the price.

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Also to reference the article from @aclarkuk82 about what appears to be a "scamDapp" see below:

https://steemit.com/eos/@aclarkuk82/eos-airdrop-for-eox-is-it-a-scam

Lastly I will note if you make your own thoughts about EOS>Fish check it out and let me know what you think! https://eos.fish/